{"database": "press", "table": "releases", "rows": [["https://web.archive.org/web/20140309074618/http://rothfus.house.gov/index.cfm?sectionid=25&itemid=605", "Rothfus Discusses Impact of Mortgage Rules on Low-to-Moderate Income and Inner City Communities", "2013-11-20", "2013", "2013-11", "Republican", "House", "PA", "Keith Rothfus", "R000598", "web.archive.org", null, null, "legacy", "Washington, D.C.\u00a0\u2013 Congressman Keith Rothfus [PA-12] joined fellow members of the House Financial Services Committee for a markup of legislation to reform the Consumer Financial Protection Board (CFPB).\u00a0 The legislation being considered today will bring more accountability and transparency to the CFPB.\u00a0 Click here for more information.\n\n\tThe Qualified Mortgage rule, which the CFPB issued in January 2013, will take effect on January 10, 2014.\u00a0 Click here for more information.\u00a0 In his remarks during today\u2019s markup, Congressman Rothfus discussed the CFPB\u2019s Qualified Mortgage rule and the negative impact it will have on working families in Western Pennsylvania.\n\n\tCongressman Rothfus and Financial Institutions and Consumer Credit Subcommittee Chairwoman Shelley Moore Capito [WV-02] recently hosted a roundtable in Ross Township to learn more about how the Qualified Mortgage rule will impact local communities.\n\n\tClick here to read more about the recent Qualified Mortgage (QM) rule roundtable.\n\n\tPartial Transcript of Congressman Rothfus\u2019s Remarks:\n\n\tMr. Chairman, there is a growing imbalance between this town and the rest of the country.\u00a0 You just look at the incredible aggregation of wealth and power that\u2019s happening in this town.\n\n\tThere is news out this week that we now have an even higher concentration of individuals at the top end.\u00a0 Seven of the ten richest counties in the country are right around Washington, D.C.\u00a0 D.C. has the highest per-capita income in the country.\n\n\tThe transfer of wealth and power to this town is incredible.\n\n\tI sense a growing disconnect between the agencies in this town and the communities that they purport to serve, and this is so clear when you look at QM and Ability-to-Repay (ATR).\n\n\tAs [Financial Institutions Subcommittee] Chairman Capito mentioned, we were in Pittsburgh a couple weeks ago listening to community leaders, people who serve low-to-moderate income and inner city communities, that are being turned around by the ability of consumers to get out of a rental unit and into a home and own their own home and how that can transform a community.\n\n\tThey are incredibly concerned with the impact of QM and ATR on those consumers and they discussed the default rates that were incredibly low, under 1%.\u00a0 This rule is hurting them.\n\n\tWhat we\u2019re talking about today are a series of bills about good government, making agencies accountable to the people that they purport to serve, the people who pay their paychecks. That would be the American people. I would just encourage, as we go through these bills, to consider that. And I yield back to the Chairman.", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://web.archive.org/web/20140309074618/http://rothfus.house.gov/index.cfm?sectionid=25&itemid=605"], "units": {}, "query_ms": 0.8927327580749989, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}